MBA1226 Does Offline Marketing Still Work in 2019?

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Hey O welcome to the $100 MBA show. Wherever you are, whenever you are, you're 10 minutes away from a better business every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar is at home. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's lesson you will learn Does Offline Marketing still work in 2019? Banners, billboards, sponsoring a little League team Do offline marketing efforts pay off? Of course the issue with offline marketing is that it's hard to track and really calculate a direct ROI on investment opposed to digital marketing where you can track links and clicks and conversions. Offline marketing still does work, but you're going to need to see if it works for your business. And this is what today's episode is all about. Let's see how it works for your business. I'm going to give you some tips, some strategies on how to test if an offline marketing opportunity is a good investment for your marketing efforts. I'll also be talking about how you can get some online marketing along with your offline marketing as part of your package to maximize your marketing efforts. So let's get into it. Let's get down to business. You may have considered putting up a billboard in your local area for your business, maybe sponsoring a local event or even a local team, even your over 30s basketball league. But are these marketing efforts just vanity? A way to feel good about yourself or do they actually work? Well, I've tried a lot of offline marketing in a previous business with my clothing line back in the day and I have actually tried a lot of different things when it comes to offline marketing, and I've tried it recently with our software company and I want to share with you some of the results and some of the strategies I've used to maximize my marketing efforts. I first want to say, any marketing that you do, you have to try your very best to find a way to measure the results. Having a billboard in a high traffic area with your logo and website is great. But if you can't track that people that come to your website have come from that billboard, then it's really hard to know if your investment was worth it. So you got to do everything you can to make sure you can track that conversion. One of the ways you can do that is by having a unique URL or a coupon code that somebody can use and you offer on the advertisement, like use coupon code MBA or use coupon code billboard. This code or this link is unique. And it's a way for you to track customers that have come through that advertisement. It's the very least you can do so you can measure your results. Now, of course, the agency that's going to be selling you this offline marketing or the sports team you're sponsoring or the event organizer, they're going to sell you this idea of word of mouth. You're going to get word of mouth, you're going to get exposure. And my answer to that is if you can't measure it, you can't manage it. That's what Peter Drucker says, right? You can't do that. Exposure is wonderful. But for most of us, we're not a billion dollar company where we can just spend thousands and millions of dollars on advertising and not think twice. We can't afford to lose money. So that's rule number one. Whatever you do, whether it's sponsor a sports team, advertise on a bus or on the subway, in a newspaper, in a Gazette, whatever it is, make sure that when you give your call to action, when you tell people, hey, come check me out, give them a way to go there so you can track them, whether it's a unique link like webinar ninja.com billboard or webinar ninja.com daily gazette or a coupon code that's unique to that advertisement. Now, I've done a lot of offline marketing with a previous business, like I mentioned my clothing line, Zenim Design, and it works really well if you are advertising to a very specific market. Let me give you an example. Let's say I wanted to advertise on the jerseys of an intramural evening over 30 basketball league. I'm a part of a league like that. Now, let's say I wanted to sponsor a team and I want to put my company on their jerseys. That's going to cost me some money, but I'll be advertising on their jerseys throughout the season. The other teams will see these jerseys, the spectators will see these jerseys. And if it's a good team, I'll get maximum exposure as they reach the finals. Now, it probably is not a good fit or a perfect fit if I were to do this with my webinar software, Webinar Ninja. Not everybody on that team is a business owner or runs webinars or makes the decision on what software they use in their company. Same with the spectators. But if I were a sports drink that helped people recover after a tough workout, this is a much better fit. Everybody that's playing and many of the people that are watching would want to check out my sports drink. They're into sports. This is why you'll find a lot of offline marketing for video games. Video Game companies, PlayStation, Xbox, they know that you like entertainment and you like certain genres and they'll advertise in markets like that. So I would find the perfect audience for your product to advertise offline to. Let me give an example that I did. We marketed this podcast, a Hundred Dollars MBA Show Offline. We actually hired somebody to put up flyers on major campuses, US universities across the country. And we told them to focus on the parts of campus where business school or business courses are taught. Hang up these flyers in the business clubs of those campuses. Students that are into business are going to be interested in business lessons. They're going to be interested in a podcast called the Hundred Dollar mba. That's a perfect match and worth our effort. We also included a link on the flyer for them to get a free ebook. And that link, you guessed it, it was a unique link so I can track who comes off the flyer and it allowed me to collect an email address and add them to our newsletter. So it does work. Offline marketing does work, but you have to really go after a very specific audience that's perf your actual business or offering and you got to have a way to track them. Now, whenever I'm actually going to do any offline marketing, I try to see if I can negotiate with the party that's doing the advertising for me to get some online marketing with it. So say, for example, I'm sponsoring one of the teams in a sports league. This sports league has a website. Why can't I get my logo and my website on their site? Sometimes you just need to ask. They may not even consider and say, hey, do you mind putting my company's logo that hyperlinks that links to my website on the homepage of your league website? You could put it at the bottom. You could just say, proud sponsors. That'd be great if you can include that with my package. Every time I asked, I got a yes. Because it's very, very simple for them to do. It's an easy thing for them to implement and it adds a lot of value for you. And you guessed it, that link that I asked them to hyperlink my logo to is a specific link. It's a unique link that I can track. That way I can check out my Google Analytics and say yes. I got five visitors this week from that link on that website. I also asked them to include us in your newsletter, even if it's at the bottom of the newsletter. Hey, we want to give a shout out to one of our sponsors. They're supporting our league and one of our teams. A quick blurb about what we do in a link. Most parties will want to do that. They want to help you out to make sure it's a win for you. And remember, it's a negotiation. You can ask for things, you can ask for something extra or some things that are extra.

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To wrap up today's lesson, offline marketing can be effective, but you have to be very strategic about it. You have to get very specific and make sure you're marketing to the perfect audience for you people that would definitely be interested in what you have to offer. You have to have a way to track the advertisement, to track the marketing effort that you're making offline. You also have to ask ask for more. Can you get some online marketing with it? On their website, in their newsletter. Remember that sports league example? You can even ask them to add some offline stuff like hey, can you add our company name to the trophy? They're engraving it anyway. They might as well put your name on it as well. People will be sharing pictures with this trophy. It could add some value. Well, that wraps up today's lesson. Thank you so much for listening. Before I go, I want to leave you with this. I highly recommend you try offline marketing at a lower rate. Don't spend too much money at the start. I made that mistake and I spent a lot of money in my first effort back in my clothing line days and I got discouraged. Try something small, a newspaper ad, a local built in board college campuses. Hey, even local TV commercials in local areas can cost just a few hundred dollars. You'd be surprised. Alright, thank you so much for listening. I'll check you in. Tomorrow's episode Freeride Friday. I'll see you then. Take care.

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